Description

One of Only Seven Examples Known

Fr. 4 $5 1861 Demand Note PMG Fine 12 Net.
1861 Demand Notes were the first federal notes issued after the
start of the Civil War. While they ceased to be redeemable in
specie by the end of 1861, they were receivable for customs duties
(normally paid in gold coin). This essentially made them as "good
as gold" and meant that they actually garnered a premium over face
value. Notes were issued, payable in five different cities, New
York, Philadelphia, Boston, Cincinnati and St. Louis, and were all
hand signed by clerks. Notes from Cincinnati office are rare, with
only seven $5 Cincinnati Demand Notes presently known. This note,
which is ex-Amon Carter, has a few very minor tape repairs of edge
splits as noted by PMG. On a note of this rarity, it is utterly
immaterial, but it does bear a five-digit radar serial 11311. The
colors are surprisingly good for a note in this grade, particularly
the green back which gave these early Demand Notes their nickname.

Auction Info

Auction Dates

April, 2020

22nd-27thWednesday-Monday

Bids + Registered Phone Bidders: 5

Lot Tracking Activity: N/A

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